Juhua Co. 2024 Net Profit Expected to Increase by 98%-123%

On January 23, Juhua Co. announced a significant performance increase for 2024, projecting a net profit attributable to shareholders of between 1.87 billion to 2.1 billion yuan, reflecting a remarkable year-on-year increase of 98% to 123%. The company also expects its net profit, excluding non-recurring gains and losses, to reach between 1.721 billion to 1.951 billion yuan, marking an increase of 109% to 137% compared to the previous year.

In 2024, Juhua's production of refrigerants is anticipated to reach 591,405 tons, a 21.12% increase, with revenue expected to reach 944.7 million yuan, up 62.69%. Meanwhile, fluoropolymer materials production is projected at 131,846 tons, showing a modest 2.92% increase, but revenue is expected to decrease by 10.92% to 183.9 million yuan. The company forecasts a remarkable 148.99% increase in the production of fluorinated fine chemicals, with revenues soaring by 99.48% to 27.8 million yuan.

The primary drivers behind Juhua's impressive growth include increased external sales and rising prices for its major products. The company highlighted several factors contributing to this financial success:

Market Dynamics: Juhua's second and third-generation fluorinated refrigerants have seen improved supply-demand dynamics and competitive order under production quotas, leading to a substantial price recovery in these products.

Business Structure: With the rebound in refrigerant prices, the segment's contribution to Juhua's overall business structure and profitability has significantly increased. The positive impact of rising refrigerant prices has outweighed the negative effects from declining prices in non-refrigerant chemical products.

As Juhua continues to capitalize on these trends, its market position is expected to strengthen, further enhancing its profitability in the upcoming year.